Calendar Year

1988 in US Banking

1,745 bank events are on record for 1988: 232 failures, 1,275 mergers or acquisitions involving a bank, credit union or bank holding company, and 0 enforcement actions.

232

Failures

$48.36B in failed assets

1,275

Mergers

Federal Reserve NIC, banking organizations

Enforcement

OCC, FDIC, FRB, OTS and SEC 8-K filings

238

Assistance

FDIC open-bank assistance

Jump to: Bank failures 1988 · Bank mergers 1988

How many banks failed in 1988?

232 banks failed in 1988, with $48.36B in assets. Each failure below links to its own page.

Date	Bank	HQ	Assets	Acquirer or resolution
Mar 3, 1988	The Home State Bank	Russell, KS	$59.9M	First NB&T Co of Salina
Mar 3, 1988	Flower Mound Bank	Flower Mound, TX	$17.4M	Security Bank
Feb 25, 1988	Harris County Bank Houston, N.A.	Houston, TX	$80.7M	Omnibanc South National
Feb 25, 1988	American National Bank	Stafford, TX	$31.3M	Park NB of Houston
Feb 25, 1988	Collin County State Bank	Melissa, TX	$12.5M	Willow Bend National Ban
Feb 18, 1988	The Farmers & Merchants BK of Hill City	Hill City, KS	$16.5M	Farmers&merchants BK Hil
Feb 18, 1988	Mustang Community Bank	Mustang, OK	$9.4M	First National Bank of M
Feb 12, 1988	The First State Bank	White Cloud, MI	$36.4M	Peoples STB of St Joseph
Feb 12, 1988	Global Bank	Hialeah, FL	$21.7M	Ocean Bank
Feb 12, 1988	Basin State Bank	Vernal, UT	$12.0M	Zions First National Ban
Feb 11, 1988	First Houston Bank, N.A.	Houston, TX	$33.2M	Texas Commerce Bank N.A.
Feb 11, 1988	First State Bank	Oilton, OK	$13.2M	American NB of Bristow
Feb 5, 1988	Bank of Dallas	Dallas, TX	$207.8M	Deposit Guaranty Bank
Feb 3, 1988	The Bank of Louisburg	Louisburg, KS	$20.7M	Peoples NB&T Ottawa
Jan 29, 1988	The Trust Bank	Hialeah, FL	$164.5M	Republic NB of Miami
Jan 29, 1988	Territory S&LA	Seminole, OK	$31.2M	—
Jan 28, 1988	Port City Bank	Houston, TX	$60.7M	Channelview Bank
Jan 28, 1988	Houston Commerce Bank	Houston, TX	$41.0M	—
Jan 22, 1988	Bank of Casper	Casper, WY	$6.1M	First Wyoming Bank Caspe
Jan 21, 1988	United Mercantile Bank	Shreveport, LA	$86.3M	Hibernia National Bank
Jan 21, 1988	Northwest Bank	Dallas, TX	$58.4M	American Bank of Haltom
Jan 21, 1988	Sam Houston Nat'L Bank of Walker	Huntsville, TX	$37.6M	Huntsville National Bank
Jan 21, 1988	Louisiana Commercial Bank	Madisonville, LA	$26.8M	Pontchartrain State Bank
Jan 21, 1988	Williston Basin State Bank	Williston, ND	$14.0M	First NB&T Co of Willist
Jan 21, 1988	Cedar Vale State Bank	Cedar Vale, KS	$11.7M	Chisholm Trail State Ban
Jan 20, 1988	Aredale State Bank	Aredale, IA	$9.6M	First Security Bank&trus
Jan 15, 1988	First Savings of East Texas	San Augustine, TX	$61.7M	—
Jan 14, 1988	Colonial Bank	New Orleans, LA	$50.2M	Pontchartrain State Bank
Jan 14, 1988	Balboa National Bank	National City, CA	$29.3M	—
Jan 14, 1988	The Moran National Bank	Moran, TX	$17.2M	Peoples State Bank
Jan 8, 1988	The North American Bank	Phoenix, AZ	$32.3M	Columbia Bank
Jan 7, 1988	Commerce Bank of Plano	Plano, TX	$35.3M	Quinlan State Bank

Which banks merged in 1988?

1,275 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1988.

See the fuller list: Bank mergers 1988 with largest deals and credit union mergers ›

Date	Acquired	St	Acquirer
Dec 31, 1988	Cal America Savings and Loan Association, a Federal Savings and Loan Association	CA	Columbus Savings, a Federal Savings and Loan Association
Dec 31, 1988	Premier Bank - Acadiana, National Association	LA	Bank One, Louisiana, National Association
Dec 31, 1988	Cosmopolitan Financial Services, Inc.	IL	Edgemark Financial Corporation
Dec 31, 1988	Citizens State Bank of Green Isle	MN	MidAmerica Bank Chaska
Dec 31, 1988	Valley Bank and Trust Company	WV	(unnamed)
Dec 31, 1988	(unnamed)	—	Bank One, Louisiana, National Association
Dec 31, 1988	South FL SVG FS&LA	FL	Southeast Bank for Savings, A FSB
Dec 31, 1988	Edgemark Financial Corporation	IL	Edgemark Financial Corporation
Dec 31, 1988	The First National Bank of Peckville	PA	PNC Bank, Northeast PA
Dec 31, 1988	First Federal Savings and Loan Association of Elgin	IL	First Federal of Elgin, F.S.A.
Dec 31, 1988	Farmers State Bank	KS	First Kansas Bank
Dec 31, 1988	Colorado Springs Security Pacific Industrial Bank	CO	Security Pacific Finance System Incorporated
Dec 31, 1988	Peoples Exchange Bank	WI	Valley Bank, Menomonie
Dec 31, 1988	Union National Corporation	PA	Integra Financial Corporation
Dec 31, 1988	Peoples Bank	PA	Community Banks, National Association
Dec 31, 1988	(unnamed)	—	Community Bank
Dec 31, 1988	Princeton Applied Research Federal Credit Union	NJ	Edifi Federal Credit Union
Dec 31, 1988	(unnamed)	—	Firstar Bank, National Association
Dec 31, 1988	Fort Drum Federal Credit Union	NY	Americu Credit Union
Dec 31, 1988	The Pen Argyl National Bank	PA	Lafayette Ambassador Bank
Dec 31, 1988	Pennbancorp	PA	Integra Financial Corporation
Dec 31, 1988	Braeburn Steel Employees Federal Credit Union	PA	Western Pa Federal Credit Union
Dec 31, 1988	Vermont Holding Corporation	MA	Key Bancshares of Vermont Inc.
Dec 31, 1988	The Premier Bank of South Louisiana	LA	Bank One, Louisiana, National Association
Dec 31, 1988	Tracy-Collins Bank and Trust Company	UT	U.S. Bank of Utah
Dec 31, 1988	XYZ Acquisition Corp.	NY	Irving Bank Corporation
Dec 31, 1988	Marine Midland Properties Corporation	NY	HSBC USA Inc.
Dec 31, 1988	United Federal Savings & Loan Association	SD	Home Federal Bank
Dec 31, 1988	Peoples Safe Deposit Bank, Saint Clair	PA	Community Banks, National Association
Dec 30, 1988	Farmers and Merchants Bank	AR	First National Bank of Eastern Arkansas
Dec 30, 1988	First Wyoming Bancorporation	WY	Key Bancshares of Wyoming, Inc.
Dec 30, 1988	Charter National Bank - Southwest	TX	Charter National Bank - Houston
Dec 30, 1988	Nicholson Voting Trust Agreement	PA	Comm Bancorp, Inc.
Dec 30, 1988	First City Bank-Forest Hill	TX	First City, Texas - Dallas
Dec 30, 1988	Arrowhead Federal Savings and Loan Association	OK	Equity Bank for Savings, F.A.
Dec 30, 1988	First City National Bank of Colleyville	TX	First City, Texas - Dallas
Dec 30, 1988	Keystone Savings & Loan Association	TX	Pacific Southwest Bank
Dec 30, 1988	City Bank-Rankin	IL	City Potomac Bank
Dec 30, 1988	First City Bank of Lewisville	TX	First City, Texas - Dallas
Dec 30, 1988	First City Bank-Central Arlington, National Association	TX	First City, Texas - Dallas
Dec 30, 1988	Columbia Savings, a, Federal Savings and Loan Association	CO	Columbia Savings, a Federal Savings and Loan Association
Dec 30, 1988	Doss Financial Bancshares, Inc.	TX	Texasbanc Holding Co.
Dec 30, 1988	First City Bank of Plano, National Association	TX	First City, Texas - Dallas
Dec 30, 1988	(unnamed)	—	First Interstate Bank of California
Dec 30, 1988	First City National Bank of Fort Worth	TX	First City, Texas - Dallas
Dec 30, 1988	First City National Bank of Arlington	TX	First City, Texas - Dallas
Dec 29, 1988	Landmark Bank of St. Clair County	IL	Magna Bank of Illinois
Dec 29, 1988	Landmark Bank of Mascoutah	IL	Magna Bank of Illinois
Dec 29, 1988	Landmark Bank of Edgemont	IL	Magna Bank of Illinois
Dec 29, 1988	First National Bank	MN	First National Bank

The list holds 500 of the 1,275 mergers recorded for 1988.

FDIC Open-Bank Assistance in 1988

Date	Institution	HQ	Assets
Dec 31, 1988	Broward FS&LA	Sunrise, FL	$535.7M
Dec 31, 1988	Peoria S&LA	Peoria, IL	$171.6M
Dec 30, 1988	United Savings Association of Texas	Houston, TX	$4.64B
Dec 30, 1988	Columbia FS&LA	Englewood, CO	$3.13B
Dec 30, 1988	First FS&LA of Jacksonville	Jacksonville, FL	$1.24B
Dec 30, 1988	Pathway Financial	Chicago, IL	$1.22B
Dec 30, 1988	Beach FS&LA	Boynton Beach, FL	$1.14B
Dec 30, 1988	Jackson County FSA	Medford, OR	$266.1M
Dec 30, 1988	Tracy-Collins Bank & Trust Company	Salt Lake City, UT	$213.3M
Dec 30, 1988	Northwest FS&LA	Spencer, IA	$129.1M
Dec 30, 1988	Great Falls FS&LA	Great Falls, MT	$128.0M
Dec 30, 1988	Home FS&LA	Spencer, IA	$46.5M
Dec 29, 1988	American SB	Springfield, IL	$887.0M
Dec 29, 1988	Charter Savings S&LA	Corpus Christi, TX	$396.8M
Dec 29, 1988	Peoples S&LA	Llano, TX	$171.1M
Dec 29, 1988	Seguin Savings Association	Seguin, TX	$140.5M
Dec 29, 1988	Lee Savings Association	Giddings, TX	$73.9M
Dec 29, 1988	Union Sa	San Antonio, TX	$72.1M
Dec 29, 1988	Bayview FSA	Corpus Christi, TX	$64.6M
Dec 29, 1988	Independence S&LA	Gonzales, TX	$59.1M
Dec 29, 1988	Ranchers Savings Association	Johnson City, TX	$56.2M
Dec 29, 1988	Yoakum FS&LA	Yoakum, TX	$43.6M
Dec 29, 1988	Keystone S&LA	Lampasas, TX	$30.7M
Dec 29, 1988	First FS&LA	Luling, TX	$30.6M
Dec 29, 1988	Burnet S&LA	Burnet, TX	$28.1M
Dec 28, 1988	First Financial SB	Des Moines, IA	$262.7M
Dec 27, 1988	Gibraltar Sa	Houston, TX	$6.46B
Dec 27, 1988	First Texas Savings Association	Dallas, TX	$3.13B
Dec 27, 1988	Montfort Savings Association	Dallas, TX	$1.82B
Dec 27, 1988	Killeen S&LA	Killeen, TX	$163.4M
Dec 23, 1988	Virginia FS&LA	Richmond, VA	$678.9M
Dec 22, 1988	Commodore Savings Association	Dallas, TX	$499.4M
Dec 22, 1988	Home Sa	Houston, TX	$495.5M
Dec 22, 1988	Home S&LA	Lufkin, TX	$278.5M
Dec 22, 1988	Vista Savings Association	Odessa, TX	$133.1M
Dec 22, 1988	First FS&LA	Big Spring, TX	$129.3M
Dec 22, 1988	Interwest Savings Association	Fort Worth, TX	$109.4M
Dec 22, 1988	Southern Federal Banc S&LA	Lancaster, TX	$91.3M
Dec 22, 1988	Lamesa FS&LA	Lamesa, TX	$89.3M
Dec 22, 1988	Sentry Savings Association	Slaton, TX	$87.0M
Dec 22, 1988	First Western S&LA	Colorado City, TX	$83.4M
Dec 22, 1988	Metroplex Federal Savings Association	Hurst, TX	$64.8M
Dec 22, 1988	Mesquite S&LA	Mesquite, TX	$47.0M
Dec 22, 1988	Reliance Savings Association	Houston, TX	$41.5M
Dec 22, 1988	Mineral Wells S&LA	Mineral Wells, TX	$31.5M
Dec 21, 1988	Baton Rouge Bank & Trust Company	Baton Rouge, LA	$111.5M
Dec 17, 1988	Ohio Valley	Steubenville, OH	$203.9M
Dec 17, 1988	First Border SB	Piqua, OH	$111.0M
Dec 16, 1988	Bloomfield S&LA	Birmingham, MI	$688.7M
Dec 16, 1988	Rocky Mountain FS&LA	Cheynne, WY	$307.2M

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